Comments by MAS Spokesperson on Structured Products Linked to Lehman Brothers

"MAS is in close contact with the financial institutions (FIs) that sold or issued structured products which are linked to Lehman Brothers, and has asked them to expedite their assessments of how investors will be affected. HSBC Institutional Trust Services (Singapore) Ltd, trustee for the Lehman Minibond programme has sent letters to affected investors today, detailing the actions that they will take as trustee and the time frames involved. We have asked both HSBC and DBS, the issuer of 'DBS High Notes 5', to update concerned investors on a timely basis, including by means of 'Frequently Asked Questions' posted on their websites.  MAS has also asked FIs to keep us informed of customers' queries and complaints they have received and the responses provided. We will continue to monitor the situation and urge FIs that issued or sold structured products linked to Lehman Brothers to continue to provide timely and clear information to all affected investors."